Francesco Bongiorno's Germain Motor Company Acquires Retail, Specialty Building, And Land In Staten Island For $5.7M
230 Mansion Avenue, 222 Mansion Avenue & Tennyson Drive
$5,650,000
$251/SF
Building Size
7,500 SF
Asset Type
Retail
Closing
Oct 25, 2023
About this deal
AI
Francesco Bongiorno, representing Germain Motor Company, has purchased a portfolio of properties in Staten Island, including a retail building, a specialty building, and vacant land. The transaction price for this deal amounted to $5.7 million.
Summary of transation details
- Property Type: Retail, Special Purpose, Land
- Transaction Amount: $5,650,000
- Address: 230 Mansion Avenue, 222 Mansion Avenue & Tennyson Drive
- Market: Staten Island
- Buyer: Francesco Bongiorno - Germain Motor Company
- Seller: Gerald Poland - Staten Island Yacht Sales
- Building Square Footage: 7,500
- Price Per Square Foot: $753
- Building Square Footage (BSF): 128,719
- Price Per Building Square Foot (PPBSF): $44
Gerald Poland, representing Staten Island Yacht Sales, sold the properties to Germain Motor Company's representative Francesco Bongiorno. The properties were acquired by Germain Motor Company through Jaz Automotive Properties, LLC.
Players
Staten Island Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.81%
Cash-on-Cash
-0.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93